Accelerator Development Scheme 2015-2017

Overview

The Action Plan for Jobs 2015 called on Enterprise Ireland to increase the level of start-up support in Ireland with one of the associated actions being a scheme to support commercially managed accelerators.

Accelerators can and do play a role in enhancing the start-up eco-system nationally and in supporting the early stage development of start-up companies leading to increased growth overtime. 

In this context, the Minister for Jobs, Enterprise and Innovation has approved a €3m Scheme to pilot an initiative to support a number of regional accelerators (outside of County Dublin) and the issuing of an open competitive calls for expressions of interest. The Scheme is funded under the €40m Fund established by Government to support regional economic development. All funding under the Scheme will be allocated on the basis of open competitive.

 

Scheme Objectives 

The overall vision of the Accelerator Development Scheme (2015-2017) is to increase the number of accelerators operating in the Irish market to support entrepreneurship, company creation and job creation in new manufacturing and Internationally Traded Services companies in Ireland.

To realise this vision, the objectives are:

  • To encourage and leverage private sector investment in the provision of accelerator programmes.
  • To leverage domestic and international private sector investment with the objective of enhancing the entrepreneurial eco-system in Ireland.
  • To support the start-up strategies of Enterprise Ireland’s sectors with expertise and early stage investment.
  • To seek innovative funding solutions that reflect current international best practice to enhance the accelerator offering available to Irish entrepreneurs or entrepreneurs locating to Ireland seeking to establish new manufacturing or internationally traded service companies. 

Objectives of the current call

The objective of the current call is to;

  • Establish a number of accelerators in the regions outside of County Dublin. Sectors to be targeted include including Food, Agritech, ICT, Cleantech, Lifesciences, Financial Services, Internationally Traded Services, and Manufacturing. Up to €3m can be committed under this first call for expressions of interest.
  • The objective of the Scheme is to act as a catalyst for the establishment of new accelerators in line with international best practice and involving the following characteristics:
  • An application process that is open to all new prospective Manufacturing and Internationally Traded Service companies, yet highly competitive.
  • Provision of pre-seed investment, usually in exchange for equity.
  • A focus on small teams rather than individual founders.
  • Time-limited support comprising programmed events and intensive mentoring from people with extensive relevant commercial experience

Expressions of Interest

Enterprise Ireland will make decisions based on its assessment of the quality of the Expressions of Interest received. Enterprise Ireland retains the right not to commit any or all of the funding allocated to this call.

The receipt and acceptance of any Expression of Interest submitted as part of this call under the Accelerator Development Scheme (2015-2017) does not in any way indicate an intention by Enterprise Ireland to make a financial commitment.Expressers of interest are asked to clearly follow the Guidelines that have been produced.

How to submit an Expression of Interest?

A single copy of the completed Expression of Interest should be submitted to the HPSU Division, Accelerator Development Scheme, Enterprise Ireland, East Point Business Park, East Point, Dublin 3 on or before 3pm on March 31st, 2016.

An electronic copy of the Expression of Interest should be sent by e-mail to GrowthCapital@enterprise-ireland.com on or before 3pm on March 31st, 2016. 

Guidelines

Download Guidelines - First Call for Expressions of Interest - Accelerator Development Scheme (pdf)

For further information contact:

Anne O’Donoghue

Senior Development Advisor, HPSU Division

Anne O'Donoghue

+353 1 7272812

Garrett Murray

Manager, Government Relations

Garrett Murray

+353 1 727 2815